In this article, we will learn in-depth about the relationship of accounting with other subjects, and much more.
How Does Accounting Create Relationship with Other Subjects?
Accounting is not able to do any work on its own or on a stand-alone basis, so Accounting has developed relationships with different subjects while performing different activities of the organization. In some cases, the relationship is very deep and, in some cases, the relationship is significant.
Accounting has developed its relationship with the following subjects:
- Political Science
- Environmental Science
- Engineering Education
- Banking and Finance
Accounting and Economics
The relationship between accounting and economics is very deep, as economics discusses the fair use of resources and accounting also discuss the fair use of limited resources.
Accounting and Management
Accounting is an important management tool. Accounting publishes the information requested by the organization and, on the basis of this information management, works on the preparation and implementation of various plans and, for this purpose, the management is entirely dependent on accounting.
Accounting and Mathematics
The relationship between accounting and mathematics is very close. The account is based on the mathematical process and the Accounting equation A = L + OE is created on the basis of this mathematical process.
Accounting and Statistics
Accounting has a close relationship with statistics. Statistics uses accounting data to provide information to the organization in the form of narratives.
Accounting also uses numerical tables, charts, to show accounting information to the organization’s shareholders.
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Accounting and Computer
Accounting and computers were inseparably connected in the modern age. At present, no entity can be found where there is no computer, and with the aid of a computer, millions of mathematical problems can be overcome in a short time.
Therefore, using the computer, the Accounting records, and processes all the transactions and delivers accounting information to the party concerned as quickly as possible.
Accounting and Law
There is a deep connection between accounting and the law, and the accounting records are kept out of the different provisions of the law.
On the other hand, the law relies on accounting for various legal and litigation-related information.
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Accounting and Political Science
There is also a deep connection between accounting and political science. The main purpose of political science is to do welfare work for the state and to do this welfare work, the state needs to save all revenue, expenditure, development activities and account for the different projects of the state.
And they need accounting to save their accounts As a result, political science is deeply involved in accounting.
Accounting and Engineering
Each organization requires different types of modern equipment, and these devices are built by engineers, and engineers rely on the science of accounting for the knowledge of cost savings, the cost of producing such tools.
Accounting and Environmental Science
Environmental science has a significant relationship with accounting, accounting is concerned with whether a company does any harm to the environment while making a profit.
Accounting and Banking & Finance
Banking and finance have a strong relationship with accounting; it is important to have knowledge of accounting in order to maintain sound banking and finance accounts.
Banking and finance can not be carried out easily and precisely without proper accounting knowledge.
Accounting and Marketing
Marketing plays an important role in accounting, accounting provides important data on the potential market, consumer and product costs, and on the basis of that information, marketing makes the appropriate plans.
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